INIT / PAXG ratio and spread
1 INIT = 3.75E-5 PAXG. Below is the price ratio chart and the regression spread z-score. Hedge ratio β is -0.977 and the correlation between the legs is 0.11.
If you hold INIT · If you hold PAXG
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Key numbers
over 391 daily candles
How each of these is computed: regression spread, hedge ratio, spread z-score, half-life, correlation.
What the numbers say
The fitted hedge ratio is negative: over the window INIT and PAXG moved in opposite directions. A pair trade assumes the legs move together, so this combination does not qualify as one.
The spread currently sits at 2.13 standard deviations above its rolling mean — INIT is expensive relative to PAXG by the standards of this window.
Historically the spread covers half the way back to its mean in about 29 days, so a divergence here tends to resolve within weeks rather than months.
The current ratio sits mid-range — 33% of the way from the low to the high of the last 391 daily candles.
When this happened before
Divergences over 212 candles: 2. Closed by a return to the norm: 1. The median return took 96 days, the longest one 96 days.
The last closed one ran from 27.05.2026 to 31.08.2026, 96 days: peak z = -3.88, PAXG was expensive against INIT.
One is running right now: it started on 16.10.2026, has lasted 8 days, peak z = 2.28, INIT was expensive against PAXG. It has not returned to the norm yet.
For a holder this answers not “what to do” but “how long it usually took”: the median return is 96 days. That is no guarantee — past divergences closed, this one may not.
| Period | Expensive leg | Peak z | Return |
|---|---|---|---|
| 27.05.2026 — 31.08.2026 | PAXG | -3.88 | 96 d |
A divergence here is the spread z-score leaving ±2σ; the return is the first value back inside ±0.5σ. Two thresholds rather than one: otherwise chatter right at the border would count as a dozen separate divergences. The first bars of the window are skipped — there z is computed on partial history.
Frequently asked
How many PAXG is 1 INIT?
1 INIT is worth 0.000037475177446866 PAXG at the latest exchange quotes. The figure is the ratio of the two USDT prices and updates every minute.
What is the INIT/PAXG range?
Over the last 391 daily candles the ratio traded between 0.000011690679955223 (18.08.2026) and 0.000089460384216926 (03.10.2025).
Are INIT and PAXG correlated?
The correlation of daily log returns between INIT and PAXG is 0.11, which counts as a weak link. Log returns are used rather than prices: two rising assets correlate almost by default, joint day-to-day movement is what matters.
What is the INIT/PAXG spread z-score now?
The z-score is 2.13 — the spread is stretched beyond two standard deviations. It measures how far the regression residual log(A) − β·log(B) sits from its rolling mean, in standard deviations.
Is INIT/PAXG suitable for a pair trade?
No. The fitted hedge ratio is negative, meaning the legs moved in opposite directions over the window — the market-neutral construction that pair trading relies on does not hold here.
How often do INIT and PAXG diverge?
Over 212 daily candles the spread left ±2σ 2 times. The median return to the norm took 96 days.
Related pairs
Other pairs sharing a leg with this one.
All figures are computed from exchange data and describe past behaviour. Nothing here is investment advice.